Luis Angeles

Short Bio

I am Professor of Economics at the Adam Smith Business School of the University of Glasgow, UK. The University of Glasgow is one of the oldest and most respected institutions of higher education in the United Kingdom, and counts as a former student, Professor and Rector none other than Adam Smith - the founding figure of modern economics.

My academic interests are in the areas of Economic History, Money and Banking, and Economic Development. I have a number of publications to my name, the most salient of which I list below.

I was born in Bolivia, where I spent my childhood and school years. My University years took place in Geneva and Lausanne, Switzerland. My professional academic career has been carried out in the United Kingdom, almost entirely at Glasgow. I have been a British citizen since 2012.

Book

Academic articles (selected)

Angeles, L. (2019), “On the Nature of Banks”, Kyklos – International Review for Social Sciences 72 (3), August 2019, 381 – 399. Published version. Pre-print version (subscription-free).

Many people like to think of banks as financial intermediaries, which I believe is a mistake. Banks do not make loans by transferring money from savers to borrowers, they make loans via money creation. This paper explains how.

Angeles, L. (2017), “The Great Divergence and the Economics of Printing”, Economic History Review 70 (1), 30 – 51. Published version. Pre-print version (subscription-free).

Printing was invented in China, yet the Chinese printed mainly using block-printing technology - despite being perfectly familiar with the more advanced technology of movable-type. Europeans, in contrast, employed exclusively movable-type. I use economic analys to explain this choice, as well as the few instances in which the Chinese did employ movable-type printing.

Angeles, L. and Elizalde, A. (2017), “Pre-colonial institutions and socioeconomic development: the case of Latin America”, Journal of Development Economics 124, January 2017, 22-40. Published version. Pre-print version (subscription-free).

Latin America has been shaped not only by its colonial past, but also by the characteristics of its pre-colonial societies. More advanced pre-colonial societies predict better socioeconomic outcomes today.

Angeles, L. (2013), “On the causes of the African Slave Trade”, Kyklos – International Review for Social Sciences 66 (1), February 2013, 1-26. Published version. Pre-print version (subscription-free).

The transatlantic slave trade (16th - 19th centuries) was the largest episode of slave trade in history. Why was Africa the almost exclusive source of slaves during this period? Why were Europeans by far the largest purchasers? This paper explains the economic mechanisms behind these facts.

Angeles, L. and Neanidis, K. (2015), “The Persistent Effect of Colonialism on Corruption”, Economica 82, April 2015, 319-349. Published version. Pre-print version (subscription-free).

Angeles, L. and Neanidis, K. (2009), “Aid Effectiveness: The Role of the Local Elite”, Journal of Development Economics 90 (1), September 2009, p. 120-134. Published version.

These two papers explore some negative consequences for developing countries of having an elite which is of different ethnic origin to the majority of the population - a common result of colonialism. We provide evidence for these negative effects on aid effectiveness and on corruption.

Huff, G. and Angeles, L. (2011), “Globalization, Industrialization and Urbanization in Pre-World War II Southeast Asia”, Explorations in Economic History 48 (1), January 2011, 20-36. Published version.

The largest cities in Southeast Asia grew in tandem with Europe and the global economy - rather than in proportion to their own hinterlands - during the first era of globalization.

Angeles, L. (2010), “Demographic Transitions: analyzing the effects of mortality on fertility”, Journal of Population Economics 23 (1), January 2010, p. 99-120. Published version.

Falling mortality rates are the single largest cause of decreasing fertility in developing countries. There is a lag of about 10 years between the lowering in mortality rates and the subsequent reduction in fertility.

Angeles, L. (2008) “GDP per Capita or Real Wages? Making Sense of Conflicting Views on Pre-industrial Europe”, Explorations in Economic History 45 (2), April 2008, p. 147-163. Published version.

GDP per capita and real wages do not always evolve in parallel, which has caused some controversy among economic historians trying to judge the economic trajectory of nations. This paper shows how such conflicts may be resolved, offering a methodology that formally links the two series.

Angeles, L. (2007) “Income Inequality and Colonialism”, European Economic Review 51 (5), July 2007, p. 1155-1176. Published version.

Why are some countries more unequal than others? Answer: it has much to do with their colonial experience, and the degree to which their population changed as a result of European settlement.

For a complete list of publications please see here.

Contact details

Email: luis.angeles@glasgow.ac.uk

Institutional webpage: https://www.gla.ac.uk/schools/business/staff/luisangeles/

Mailing address: Adam Smith Business School, University of Glasgow, Glasgow G12 8QQ, UK.